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Oct 10, 2012
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what $5 trillion tax cut? >> reporter: the vice presidential candidates are the next stop on the debate stage, vice president joe biden and judgment knee paul ryan preparing for their face-off in kentucky. the vice -- and nominee paul ryan preparing for their face- off in kentucky. the vice president is known for his debating background. >> reporter: ryan was 3 years old when biden first game a u.s. senator. >> he's been doing this for 40 years. what i hope to get out of this debate is to present people with a very clear choice. >> reporter: ryan is trying to downplay expectations, but a new poll show more voters believe he'll do better than biden thursday night. susan mcguiness, cbs news, danville, kentucky. >>> do you like your spuds? so do the potato farmers in idaho. they planted nearly 350,000 acres of them which is 8% more than last year. that's good for you, maybe not so good for the farmers because larger supply could mean the price goes down which again is good for you, not so good for them. >> baked
what $5 trillion tax cut? >> reporter: the vice presidential candidates are the next stop on the debate stage, vice president joe biden and judgment knee paul ryan preparing for their face-off in kentucky. the vice -- and nominee paul ryan preparing for their face- off in kentucky. the vice president is known for his debating background. >> reporter: ryan was 3 years old when biden first game a u.s. senator. >> he's been doing this for 40 years. what i hope to get out of this...
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Oct 4, 2012
10/12
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no economists can say mit rom if i's tax plan adds $5 trillion when i say i will not add to the tax plan with my plan. >> for 18 months you've been running on this tax plan. now five weeks before the election, he's saying that his big bold idea is never mind. >> reporter: so a lot of back and forth during the debate. it was difficult to tell at times who was telling the truth. one thing as i mentioned, one thing that was noticeably absent from the debate were the personal attacks, especially that president obama never once mentioned romney's 47% comment, his taxes, his offshore bank accounts, none of that but still even without the personal attacks, that didn't turn away viewers. this was the most tweeted about political event in u.s. history. andrea, mike, get this. 10.3 million tweets about the debate in just 90 minutes. amazing. >> it is. thank you. we'll keep following this and have more reports later on in the morning from kristen fisher -- kristin fisher. >>> the morning after reports have mostly given the debate win to mitt romney. former governor bob ehrlich says president obama
no economists can say mit rom if i's tax plan adds $5 trillion when i say i will not add to the tax plan with my plan. >> for 18 months you've been running on this tax plan. now five weeks before the election, he's saying that his big bold idea is never mind. >> reporter: so a lot of back and forth during the debate. it was difficult to tell at times who was telling the truth. one thing as i mentioned, one thing that was noticeably absent from the debate were the personal attacks,...
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the economy is languishing worse where looking for more tax hikes and four years ago it was zero tax hikes? we have all been hit now we know how the middle-class and people will be affected. obamacare has at least seven pin tax hikes and 30 more on top of that. charles: we discover a couple more every month. [laughter] but i know this bothers you. the vice president throws numbers out there that the rich are getting over $1 trillion from view. that never seems out of left field but resonates better they got tired of talking about millionaires and billionaires. >> i am spectacular the perplexed by joseph biden. at least the is consistent. this is simply incorrect if the administration believes by raising taxes we can get ourselves into solvency, he is simply incorrect. mitt romney talking about the tax issues how to back out of this situation was awesome. >> i don't know if they believe this helps economically with us verses them redressing the wrongs for those who benefited the most until four years ago. >> we have seen this obama's touting the buffer role with the minimum tax for mi
the economy is languishing worse where looking for more tax hikes and four years ago it was zero tax hikes? we have all been hit now we know how the middle-class and people will be affected. obamacare has at least seven pin tax hikes and 30 more on top of that. charles: we discover a couple more every month. [laughter] but i know this bothers you. the vice president throws numbers out there that the rich are getting over $1 trillion from view. that never seems out of left field but resonates...
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Oct 4, 2012
10/12
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WUSA
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federal income tax, federal payroll tax, state income tax, state sales tax, state property tax, gasoline tax. it added up to well over 50% of what they earned. and your plan is to take the tax rate on successful sphauz small businesses from 35% to 40%. the national federation of independent businesses says that will cost 700,000 jobs. i don't want to cost jobs! my priority is jobs. and so what i do is i bring down the tax rates, lower deductions and exemptions. the same idea behind bowles simpson, by the way. get the rates down, lower deductions and exemptions to create more jobs because there's nothing better for getting us to a balanced budget than having more people working, earning more money, paying more taxes. that's by far the most effective and efficient way to get this budget balanced. >> jim, you may want to move on to another topic but i would just say this to the american people. if you believe we can cut taxes by $5 trillion and add $2 trillion in additional spending that the military is not asking for, $7 trillion just to give you a sense over ten years, that's more than ou
federal income tax, federal payroll tax, state income tax, state sales tax, state property tax, gasoline tax. it added up to well over 50% of what they earned. and your plan is to take the tax rate on successful sphauz small businesses from 35% to 40%. the national federation of independent businesses says that will cost 700,000 jobs. i don't want to cost jobs! my priority is jobs. and so what i do is i bring down the tax rates, lower deductions and exemptions. the same idea behind bowles...
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Oct 5, 2012
10/12
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WUSA
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in monaco they pay zero income tax, zero capital gains tax and zero inheritance tax. this is one of an army of accountants who help the wealthy tax kpiexiles. >> if you have a lot of money you're welcome. >> reporter: is this a safe place to enjoy wealth, is that right? >> absolutely. the monaco lifestyle. >> reporter: he lives in monaco and tennis championship and the super model and former beatle ringo starr are reportedly residents. keeping them company are thousands of millionaires to park in monaco they have to show they don't have a criminal record and residents of the european union. only a few can pass the test. having a bank account in monaco you need a minimum deposit of $400,000 and the country's real estate is the most expensive in the world. this apartment sold for more than $300 million. >> monaco is very safe. >> reporter: she sells most of the competenexpensive. >> the most expensive sold for around $13 million to a british client. >> any more details? >> no. no comment. >> reporter: in monaco secrecy is part of the service but foreign governments comp
in monaco they pay zero income tax, zero capital gains tax and zero inheritance tax. this is one of an army of accountants who help the wealthy tax kpiexiles. >> if you have a lot of money you're welcome. >> reporter: is this a safe place to enjoy wealth, is that right? >> absolutely. the monaco lifestyle. >> reporter: he lives in monaco and tennis championship and the super model and former beatle ringo starr are reportedly residents. keeping them company are thousands...
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Oct 6, 2012
10/12
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WETA
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one is deficit reduction, one is tax cuts. if tax cuts get in the way, we'll do deficit reduction. gwen: there's another number. $716 million to deal with medicare but it's coming from different places and going to different places and therefore they find -- kind of ended up in a draw. >> for the president's health care plan, in order to fund it they assumed savings over 10 years of $716 billion for medicare. mitt romney called that a cut in medicare as if it was a cut in beneficiaries. it's meant to come from providers. however, what romney was saying is that if you take that much from providers, some of them are going to stop taking medicare parents. the trick for him is that paul ryan, his running mate, also assumed the same $716 billion. gwen: and i believe romney's answer to that was i'm the candidate. >> i'm the boss. we're going to put that money back into medicare. gwen: going into these debates we were all probably guilty of setting the expectations bar and it was pretty high for president obama. i think the polls before showed him like 51% thought he was going to win. 29%
one is deficit reduction, one is tax cuts. if tax cuts get in the way, we'll do deficit reduction. gwen: there's another number. $716 million to deal with medicare but it's coming from different places and going to different places and therefore they find -- kind of ended up in a draw. >> for the president's health care plan, in order to fund it they assumed savings over 10 years of $716 billion for medicare. mitt romney called that a cut in medicare as if it was a cut in beneficiaries....
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cut. >> the obama camp says independent groups say if you cut those tax rates for everybody 20%, it costs $5 trillion over ten years, true? >> not in the least bit true. >> stephen: true, not true, who cares? (laughter) it's over ten years. romney and ryan will only be in office for eight of those. let president bachmann worry about it in 2020. that is what hindsight is for. but folks, just listen to this pit bull. >> how much would it cost. >> it's revenue neutral. >> i'm talking about the cut, we'll get to the deductions. >> the cut in tax rates is lower all american tax rate by 20%. >> how much does that cost. >> it's revenue neutral. >> stephen: okay, revenue neutral, chris. but for some reason wallace wouldn't take no answer for an answer. (laughter) jim? >> well, it's not revenue neutral unless you take away the deduction. >> let me just -- >> you haven't given me the math. >> well, i don't have-- it would take me too long to go through all of the math. >> stephen: great answer. (laughter) why-- (cheers and applause) great answer why is it a great answer? well, it would take m
cut. >> the obama camp says independent groups say if you cut those tax rates for everybody 20%, it costs $5 trillion over ten years, true? >> not in the least bit true. >> stephen: true, not true, who cares? (laughter) it's over ten years. romney and ryan will only be in office for eight of those. let president bachmann worry about it in 2020. that is what hindsight is for. but folks, just listen to this pit bull. >> how much would it cost. >> it's revenue...
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Oct 10, 2012
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i can't explain how the tax cut works for you in five minutes. you better look it up. he's going to have to do better than that. >> we'll be watching and so will you be watching. and aamer, beginning at 9:00 a.m., "u.s.a. today" reporters will be live blogging tomorrow about what the candidates say. you can see that live via our website wusa9.com. we will also have live streaming of the debate on our website. make sure your television is tuned to channel 9 to watch the debate which starts at 9:00 p.m. tomorrow. then log on to wusa9.com. at 11:00, join derek mcginty and anita brikman as they fact check what the candidates say with the "u.s.a. today" fact checking team. that's all thursday night. we'll be right back. howard is up next with the forecast. >>> welcome back. it's 6:12 and 58 degrees. monika here with your timesaver traffic. the beltway here at pennsylvania avenue looks great. no problems to report in prince george's county. in charles county an accident involving a tractor-trailer, northbound route 5 after gallon green road. also southbound bw parkway ramp t
i can't explain how the tax cut works for you in five minutes. you better look it up. he's going to have to do better than that. >> we'll be watching and so will you be watching. and aamer, beginning at 9:00 a.m., "u.s.a. today" reporters will be live blogging tomorrow about what the candidates say. you can see that live via our website wusa9.com. we will also have live streaming of the debate on our website. make sure your television is tuned to channel 9 to watch the debate...
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payroll tax, real estate tax, gas tax, on and on and on. the president raises the rates to 5%, most businesses work on 5% or 8%. how much more can they sustain? that reduces jobs, kills us. neil: that's your point; right, dave? >> exactly. you know, there's no 5% there. our goal is 2 #.5%, neil. our goal -- >> if we're lucky. neil: goal is 2.5% -- >> in a good economy. 2.5% net in a good economy in the business we do today. add 5% there -- >> you're done. >> 2.5% in the red, that's right. neil: if you hear mitt romney saying i'm going to essentially get off your back, going to roll back regulations. he was not specific which, make sure the government cools it on taxes, didn't say to the degree of what allowances and writeoffs and deductions he limits, were you either troubled by the fact it might be a wash? that you, for example, in your case for your catering business, you might see, butch, no tax savings at all, but you might have a lower rate, but can't deduct as much. >> that will kill us. without disposable income for me to spend or gr
payroll tax, real estate tax, gas tax, on and on and on. the president raises the rates to 5%, most businesses work on 5% or 8%. how much more can they sustain? that reduces jobs, kills us. neil: that's your point; right, dave? >> exactly. you know, there's no 5% there. our goal is 2 #.5%, neil. our goal -- >> if we're lucky. neil: goal is 2.5% -- >> in a good economy. 2.5% net in a good economy in the business we do today. add 5% there -- >> you're done. >> 2.5%...
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Oct 6, 2012
10/12
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FOXNEWS
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they were not taxes of the last four years they are taxes of the future. you have had massive regulation in the last four years and executive orders coming out of the federal government and viserating the congressional man date and letting the bureaucracy run the country and you have lists of them down here of over 900 executive orders and where they are abdicating the responsibility of congress and legislature and giving it to the burrcrats to run the country. it is outrageous. >> what i thought was so interesting about vice-president biden's comments 24 hours before the presidential. but setting up the middle class is effected and that is what mitt romney said middle class is suffer it has been the last four years. >> the economy is suffering under the government intervention. we often times don't think of regulations as being a tax. it is a tax not only on wealth creation but individual freedom and take the credit card act that was regulation and pass , a few years ago and had hoped to help the middle class . it made credit more expensive and difficult
they were not taxes of the last four years they are taxes of the future. you have had massive regulation in the last four years and executive orders coming out of the federal government and viserating the congressional man date and letting the bureaucracy run the country and you have lists of them down here of over 900 executive orders and where they are abdicating the responsibility of congress and legislature and giving it to the burrcrats to run the country. it is outrageous. >> what i...
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Oct 2, 2012
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the romney memo says that mitt romney will not raise taxes on anyone and that he will deliver tax cuts for the middle class. sounds pretty good, but the brookings tax policy center took a look at this issue, and here is what they found. under mitt romney 95% of americans making under $200,000 would have a tax increase averaging $2,000 while the wealthiest americans would see tax cuts of up to $86,000 per year. and his claim that he can give the wealthy those tax breaks and still close the deficit, that claim is mathematically impossible according to the tax policy center. romney's fuzzy math has put his surrogates in a bit of a tough spot. here is paul ryan trying to explain the impossible on fox us in yesterday. >> how much does that cost? >> it's revenue neutral. >> it's not revenue neutral unless you take away deductions. and we'll get to that. the first half lowering the tax rates does that cost $5 trillion -- >> no. >> you haven't given me the math. >> oh, it would take me too long to go through the math. >> come on i don't have the time to tell you how the math works. then he fol
the romney memo says that mitt romney will not raise taxes on anyone and that he will deliver tax cuts for the middle class. sounds pretty good, but the brookings tax policy center took a look at this issue, and here is what they found. under mitt romney 95% of americans making under $200,000 would have a tax increase averaging $2,000 while the wealthiest americans would see tax cuts of up to $86,000 per year. and his claim that he can give the wealthy those tax breaks and still close the...
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Oct 8, 2012
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vo: why won't t romney level with us abt his tax plan which gives the wealthyhuge new tax breaks? because according to experts, he'd have to raise taxes on the middle class - or increase the deficit to pay ior it. if we can't trt t him here... how could we ever trust him here?
vo: why won't t romney level with us abt his tax plan which gives the wealthyhuge new tax breaks? because according to experts, he'd have to raise taxes on the middle class - or increase the deficit to pay ior it. if we can't trt t him here... how could we ever trust him here?
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Oct 10, 2012
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massive tax officer. >>neil: look forward to seeing youin person tomorrow, in kentucky. thank you very much, sir. nd ic whom n"t five." >>eric: we will look at what is going on in benghazi and the hearings and find out what we knew, who knew what, when, whether there is a coverup, what going on and why we are o no nd oat w h ys t tst pants thg mpletely different. we will look into that. then well turn our tables to some media bias. tomorrow night is the big vice presidential debate. we want to know why it took the "daily calle to ft o waosie orent obama 20 years ago president obama attended her wedding the we will bigg indo -- we will dig into that. neil you talked about business leaders are pushing backrom presidmaolui evnn a j wan mr. otis and head of white castle. we will look at that and have fun with pickinon bl. th wh w attacked for supporting mitt romney, an african-american actress. she stood herround and she doubled down on it and we will talk about that. >>neil: thank you, eric. nd tmbas worried
massive tax officer. >>neil: look forward to seeing youin person tomorrow, in kentucky. thank you very much, sir. nd ic whom n"t five." >>eric: we will look at what is going on in benghazi and the hearings and find out what we knew, who knew what, when, whether there is a coverup, what going on and why we are o no nd oat w h ys t tst pants thg mpletely different. we will look into that. then well turn our tables to some media bias. tomorrow night is the big vice...
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our taxes are just too low. we need higher taxes on wealthier people. >> we need jobs. >> there's not going to be a shortage of capital, there's plenty of capital, it's just awash in capital and that's not the problem. >> our problem is not-- is not that taxes are too low, they're not. because if they were lower we'd get more jobs and more revenue, that's exactly what we need, ben, let me tell you something, you raise taxes we're going back-- >> absolutely. i couldn't agree with that more. and the deficit gets with bigger and the deficit gets bigger. >> raise taxes and-- >> we've got, okay, adam. can you break this? what do you think? which side are you on here, a fiscal cliff, how do we address this, higher taxes, lower taxes? >> we won't have a sequester for more than a few days. i can see it happening, but it won't last very long. what we have to have higher taxes. >> no, come on. >> and we know that, we will. >> all right i tell you what-- >> you know what, we'll have double dip recession. >> we may be going
our taxes are just too low. we need higher taxes on wealthier people. >> we need jobs. >> there's not going to be a shortage of capital, there's plenty of capital, it's just awash in capital and that's not the problem. >> our problem is not-- is not that taxes are too low, they're not. because if they were lower we'd get more jobs and more revenue, that's exactly what we need, ben, let me tell you something, you raise taxes we're going back-- >> absolutely. i couldn't...
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Oct 10, 2012
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FBC
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not a tax hike. pan more taxes. there might be an appetite on the part of your democratic colleagues. in other words, after the elections dogmatic bygones are bygones. if you look a that looming debt and deficit, as far as the eye can see, i think we a realize that in negotiated settlement is going to have to be reached. we have a spending problem in washington. we are cutting as much an even more bad, but at some point i think we are going to realize that the revenues areoing to need to us match the -- to come up a bid to match -- neil: some revenues and taxes in that equation. >> of eliminating some of the loopholes and special interests were government is forging the behaor and punishing bad behavior, is that we want to do? no. i think we can simplify and make it fair. by that we would give greater revenues. >> it sounds like it does commission point of view. enough of us know we have to pony up and get over ourselves and so the bg problems. neil: whenever you do or a la-duck session does, we won't be here deembe
not a tax hike. pan more taxes. there might be an appetite on the part of your democratic colleagues. in other words, after the elections dogmatic bygones are bygones. if you look a that looming debt and deficit, as far as the eye can see, i think we a realize that in negotiated settlement is going to have to be reached. we have a spending problem in washington. we are cutting as much an even more bad, but at some point i think we are going to realize that the revenues areoing to need to us...
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Oct 3, 2012
10/12
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tax rates. a shocking stat is out about millionaires getting paid unemployment. according to the congressional research service, nearly 2400 millionaires were paid unemployment in 2009. add to that another 954,000 households earning more than $100,000 also taking home unemployment benefits. the numbers include people who were hired for higher-paying jobs after receiving the government money. in 2011, the senate voted unanimously to end unemployment payments to jobless millionaires. however, it was attached to another bill which is yet to pass in the senate. a bailout for spain is "not imminent." that's according to the country's prime minister, who told reporters yesterday that plans to request a bailout are not set in stone. stocks reacted negitively yesterday on the news. many investors have expected spain to request bailout money in order to push down its high borrowing costs. moodys will release a review of the country's sovereign debt this month. some are predicting spain's rating could be
tax rates. a shocking stat is out about millionaires getting paid unemployment. according to the congressional research service, nearly 2400 millionaires were paid unemployment in 2009. add to that another 954,000 households earning more than $100,000 also taking home unemployment benefits. the numbers include people who were hired for higher-paying jobs after receiving the government money. in 2011, the senate voted unanimously to end unemployment payments to jobless millionaires. however, it...
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Oct 10, 2012
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CURRENT
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more tax breaks for the rich. and then they want to make massive cuts in social security medicare medicaid and virtually every other family needs. that's the plan. third point they would make sever poll that i have seen suggests that that is exactly what the american people don't want. the american people have been very clear. when the top 1% owns 42% of the wealth in america, you know what you have got to start asking those guys to start paying their fair share of taxes. when the middle class is disappearing, you can't cut social security -- and by the way, the so-called chain cpi, one way to cut social security would not only hit the elderly and disabled it would also hit disabled veterans. you don't make massive cuts in medicaid or medicare so i think this issue is very very clear. which side are we on? are we going to protect the wealthiest people in this country, the largest corporations eliot, one fourth of profitable corporations pay nothing in taxes. we are losing about $100 billion a year because the weal
more tax breaks for the rich. and then they want to make massive cuts in social security medicare medicaid and virtually every other family needs. that's the plan. third point they would make sever poll that i have seen suggests that that is exactly what the american people don't want. the american people have been very clear. when the top 1% owns 42% of the wealth in america, you know what you have got to start asking those guys to start paying their fair share of taxes. when the middle class...
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Oct 2, 2012
10/12
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CURRENT
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because the giant tax cut for the rich. that's why he doesn't want get into the math, and that's why romney will have a tough time at the debates. facts are not on their side. obama has boxed them in on so many issues, highways been right wing. they can't criticize him from the progressive so they have to go further right. >> it is hard to understand why speaker boehner would walk away from this kind of deal. >> this used to be a republican idea by the way the individual mandate. it's like they have amnesia. >> i will close guantanamo. >> i believe we need to look forward as opposeed to looking backwards. >> n.a.t.o. will maintain an enduring commitment. >> we then offer additional $650 billion in cuts to entitlement programs. >> this is a targeted focused effort at people who are on a list. >> there are a lot of republican who is are puzzled as to why it couldn't get done. >> i told them i'm prepared to do additional spending cuts and entitlement reform. >> cenk: where are you going to go? he said he's going to do with ent
because the giant tax cut for the rich. that's why he doesn't want get into the math, and that's why romney will have a tough time at the debates. facts are not on their side. obama has boxed them in on so many issues, highways been right wing. they can't criticize him from the progressive so they have to go further right. >> it is hard to understand why speaker boehner would walk away from this kind of deal. >> this used to be a republican idea by the way the individual mandate....
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Oct 7, 2012
10/12
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CSPAN
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that those perfectly misplaced priorities by republicans in voting to end medicare in order to fund tax cuts for millionaires, that those priorities have helped democrats across the board. governor romney chose paul ryan as his running mate on august 11. . before that, if you look at the polling in the country, it was pretty much tied. generics were really tight. maybe up one could after august 11, when governor romney decided to double down on the republican plan to and medicare to fund tax cuts for millionaires and big oil companies, it began to spread. instead of being in a neutral environment, we were up 1, 2 and 3. and then when todd aitken express' those horrific fox -- expressed those for fifth thoughts about rape, it raised it even more. and then independent voters in particular were reminded how extreme these people are and that these people have priorities that would in fact and in medicare in order to fund tax cuts for millionaires. the more republican ideas art articulated, the better we do in the polls. if the generics keep spreading, five or six or more, then we win back t
that those perfectly misplaced priorities by republicans in voting to end medicare in order to fund tax cuts for millionaires, that those priorities have helped democrats across the board. governor romney chose paul ryan as his running mate on august 11. . before that, if you look at the polling in the country, it was pretty much tied. generics were really tight. maybe up one could after august 11, when governor romney decided to double down on the republican plan to and medicare to fund tax...
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Oct 5, 2012
10/12
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MSNBC
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he has a tax cut. if you implemented it, what he says though, and has said from the beginning is that he will pay for that tax cut. when you include that sentence, he then says fairly scored, i have promised as a later date to pay for it. the question has been how are you going to pay for it? why should we believe you when no republican in 20 or 30 years has paid for a tax cut. i'm not sure it is wrong for romney to say that he is going to do a $5 trillion tax cut. the problem is he hasn't told us a word about how he is going to pay for it. the three things he wants to do, have the 20% across the board rate cut and have it paid for while protecting a bunch of tax cuts, they can't be done at once. something has to give and we don't know what it will be. >> he is wrong. because, if we give them the allowance that you are willing to give him, that will be the first time in the history of the discussion of tax policy in our government that anyone has been able to say i don't have a $5 trillion tax cut beca
he has a tax cut. if you implemented it, what he says though, and has said from the beginning is that he will pay for that tax cut. when you include that sentence, he then says fairly scored, i have promised as a later date to pay for it. the question has been how are you going to pay for it? why should we believe you when no republican in 20 or 30 years has paid for a tax cut. i'm not sure it is wrong for romney to say that he is going to do a $5 trillion tax cut. the problem is he hasn't told...
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vote for a tax cut. liz: for lower brackets. >> but reality this is -- this is kind of side show tactics, whether people want to -- revenues have to go up, hav we e to cut spending and maybe stimulus but they have to happen, and there is no getting around it they can hide behind whatever gimmick they want but we have to do all of the above. liz: what is the market reaction to that move, if they say we're going with as if call clifs -- s a bill that says raising taxes on upper bracket. >> if they did that it would be well telegraphed, i don't think they would do it in a subtle way. the market react that shows fiscal responsibility is a positive. liz: markets are not reacting. >> markets are benign about this the biggest danger for markets is a policy is make and chaos. >> do you think what we've seen -- we've seen an economy distorted by bubbles, like the economy has been on platform shoes, and i feel like, we have -- market -- some analyst some people, have been drained of all common sense, like they are
vote for a tax cut. liz: for lower brackets. >> but reality this is -- this is kind of side show tactics, whether people want to -- revenues have to go up, hav we e to cut spending and maybe stimulus but they have to happen, and there is no getting around it they can hide behind whatever gimmick they want but we have to do all of the above. liz: what is the market reaction to that move, if they say we're going with as if call clifs -- s a bill that says raising taxes on upper bracket....
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Oct 3, 2012
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what about this tax plan. is president obama obligated to supporters to point out to them that this is flawed? what do you think? >> i think the moderators are going e to ask governor romney about a lot of the things that you just talked about. i hope the moderator gives governor romney a chance to do what paul ryan said he didn't have time to do and that is explain how they pay for a $5 trillion tax cut. as you pointed out, ed, it is a time problem that is vexing in this budget. it's a math problem. they can't pay for it. if they can't pay for it, then they are going to raise taxes on the middle class. that's what the economic studies have shown. and look, i don't know anybody who thinks we're another tax cut for a millionaire away from a stronger middle class. that's just not how we have built our economy before and it's not how we're going to continue to make our country on the debate moderator to do itill ?e present be >> ihink the debate morato think the president will push back pticularly on some of thes
what about this tax plan. is president obama obligated to supporters to point out to them that this is flawed? what do you think? >> i think the moderators are going e to ask governor romney about a lot of the things that you just talked about. i hope the moderator gives governor romney a chance to do what paul ryan said he didn't have time to do and that is explain how they pay for a $5 trillion tax cut. as you pointed out, ed, it is a time problem that is vexing in this budget. it's a...
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Oct 7, 2012
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he was very specific on the tax issue. >> he was specific in repudiating obama tax plan thought did he an excellent job of that. the president has been relying on a report that has been debunked left and right by people about how romney wants to raise taxes on the middle class in order to pay for tax cuts for the wealthy. he rebutted that very effectively i thought. but i would also like to see more details. >> paul: he gave a couple of details in regard to, for example, here is how you reduce deductions and exemptions, a $25,000 $50,000 limit that any one individual could use. that was specific offered by marty felled stein of harvard as a way to make tax reform work. >> and both of them embraced the simpson-bowles commission and the simpson-bowles commission put out three different tax rates and each rate you will have to do something with the deductions and exemptions, eliminate all of them or retain them and romney says i'm going to drop rates and put all of those deductions and exemptions on the table for negotiation. any serious person in politics knows that's the starting point
he was very specific on the tax issue. >> he was specific in repudiating obama tax plan thought did he an excellent job of that. the president has been relying on a report that has been debunked left and right by people about how romney wants to raise taxes on the middle class in order to pay for tax cuts for the wealthy. he rebutted that very effectively i thought. but i would also like to see more details. >> paul: he gave a couple of details in regard to, for example, here is how...
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>> he proposes a 20% across-the- board tax cuts. >> marginal tax rate. >> alternative minimum tax. he proposes tax deductions in real-estate to reduce the deficits. what this means is, over time, $45 llion ovethe next deca. >> we are running short on time. the dough and paul debate. >> this is a deadly earnest. how they can justify raising taxes on the middle-class, who have been buried the last four years. how, in lord's name, can they justify raising their taxes? >> vice-president biden just today said that the middle-class over the last of we were years has been ". ." we agree. that means we need to stop digging by electing mitt romney the next president of the united states. >> what did you think, jonathan? >> you talk to a lot of folks in the romney campaign and they say joe biden is the gift that keeps on giving. you saw him pause when he said four years. i think he meant to say the last 10 years, and it came out wrong. this is fodder for the obama campaign. it will not change, i do not think, in a huge way, the course of events, buthere is no question the obama campaign folk
>> he proposes a 20% across-the- board tax cuts. >> marginal tax rate. >> alternative minimum tax. he proposes tax deductions in real-estate to reduce the deficits. what this means is, over time, $45 llion ovethe next deca. >> we are running short on time. the dough and paul debate. >> this is a deadly earnest. how they can justify raising taxes on the middle-class, who have been buried the last four years. how, in lord's name, can they justify raising their taxes?...